30 Shocking Retail Loss Prevention and Violent Crime Statistics for 2019
In 2019, retail crime remains one of the most serious problems facing superstores, retail chains and grocery stores. How big of a problem is it? Inventory shrinkage costs the U.S. retail industry over $45 billion each year.
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Retailers Prioritize Technology Over Personnel to Fight Retail Crime
New data from the National Retail Federation (NRF) shows that retail companies now allocate more resources to technology than to hiring additional staff. Retailers are realizing that, thanks to artificial intelligence, technology solutions can act as a force multiplier, enabling fewer...
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External Shrink Remains the #1 Cause of Retail Shrink – Here’s How to Stop It
The National Retail Federation recently surveyed 66 retailers about their leading causes of shrink. For the fourth year in a row, external shrink, including shoplifting and organized retail crime (ORC), has surpassed employee theft as the number one cause of inventory shrink. External shrink now accounts for...
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More than One Third of Enterprise Retailers are Increasing their LP Budget in 2018
The National Retail Federation (NRF) recently reported that over one third (36.5%) of retail companies are increasing their loss prevention budget in 2018. In fact, only about 20% of retailers are decreasing their LP budget.
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Here are the 10 Most Frequently Stolen Items from Retail Stores
Here is a list of the ten items most frequently stolen from retail stores by organized retail criminals. Loss prevention professions should specifically watch these items.
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Face Recognition Webinar: The Inevitable Path to Retail Adoption
As violent retail crime continues to climb, is face recognition the answer to safeguarding customers and employees? While biometric surveillance has been shown to reduce in-store crime by as much as 91%, concerns about privacy and legality persist. Together...
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New Data Shows Retail is the Fastest Growing Face Recognition Sector
Some of the world’s most successful retail chains are already using facial recognition to transform their loss prevention efforts. And new data from Market Research Future indicates that retail companies are aggressively adopting facial recognition technology. While the largest...
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Here’s How to Increase Your Odds of Catching Shoplifters
Attention loss prevention professionals: do you what your average odds are of catching a shoplifter? According to a recent National Retail Security Survey, the odds of getting caught shoplifting are 1 in 48. And each year, Inventory shrink costs the...
Read moreJoin FaceFirst at FMI’s ASAP Conference in Orlando!
If you’re a leader in the food retail industry planning to attend FMI’s ASAP Conference in Orlando, you should be sure to join our Director of Sales, Mark Ebersbach as he gives a presentation on how facial recognition technology for grocery stores...
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